After Monnet Ispat & Energy, few more steel firms IRP have invited Expression of Interest (EoI) to submit resolution plans which are undergoing a Corporate Insolvency Resolution Process.
Adhunik Group of companies
Adhunik Group of Industries have also invited EoI for one or more of the following companies. Adhunik Metaliks has an integrated steel plant located in Odisha with capacity of 0.45 MnT pa and is engaged in production of wide variety of special steel.
Orissa Manganese & Minerals Ltd (OMML) runs a 12,00,000 MTPA iron ore beneficiation plant and pellet plant in Jharkhand and also has an operational manganese ore mine in Odisha. Zion Steel Ltd owns a rolling mill of 1,20,000 MTPA capacity in Odisha. Adhunik Alloys & Power Ltd runs a sponge iron production unit (capacity of 210,000 MTPA) & steel billets (capacity of 158,400 MTPA) along with a captive power plant (30 MW) a private railway siding.
Prospective investors may submit EoI by 5:00 pm on 4th Oct’17 following which it would be subjected to evaluation on various technical and financial parameters.
Mr. Sumit Binani has been appointed as Interim Resolution Professional for the process.
In FY17, the company reported net loss of about INR 1,481 crores.
Bhushan Power & Steel
Resolution Professional (RP) has invited prospective investors, lenders and other interested parties to put forward resolution plan, are required to put forward resolution plan. Applicants need to submit their resolution plans on or before 06 Oct’17.
Bhushan Power & Steel has an integrated steel making unit of 3.5 MnT pa engaged in manufacturing of flat and long steel.
Mr. Mahendra Kumar Khandelwal has been appointed as Interim Resolution Professional for the process.
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